BITCOIN OVERDUE FOR ‘BIG FOMO RALLY’ END OF THIS YEAR, SAYS CRYPTO VETERAN BOBBY LEE!!!!

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Bitcoin O.G. Max Keiser has said that the Bank of England (BoE) will scramble to buy Bitcoin before the digital asset trades at $1 million per BTC.

The host of the Keiser Report and Orange Pill Pod, Max Keiser responded to the Bank of England’s deputy governor’s recent warning about cryptocurrencies in a statement to Express.co.uk.

“Bitcoin is designed to trigger a meltdown of the current fiat money banking system. This is a mathematically guaranteed outcome.

The bargaining phase will be their central bank digital currency stage and when that fails comes depression as the price tops $500,000 and then acceptance with the Bank of England scrambling to buy Bitcoin before it tops $ 1million per coin.”

In other trending Bitcoin News today: Grayscale hints at plans to convert Bitcoin trust into BTC-settled ETF!

On Oct. 17, Barry Silbert, the CEO of Grayscale’s parent company Digital Currency Group, hinted that Grayscale is making plans to convert its Bitcoin Trust into a spot-settled Bitcoin fund.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

https://cointelegraph.com/news/grayscale-hints-at-plans-to-convert-bitcoin-trust-into-btc-settled-etf

https://cointelegraph.com/news/all-time-high-weekly-close-5-things-to-watch-in-bitcoin-this-week

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Russian lawmakers have proposed new laws that seek to ban the use of Bitcoin and other cryptocurrencies in the country, local media reported.

According to draft bills submitted by a group of deputies to the Russian parliament recently, individuals may face up to seven years in prison and fines of up to $7,000 for using BTC in financial transactions.

People will also be penalized for buying crypto with cash or transferring to accounts opened with Russian banks.

If signed into law, the bills will punish companies that issue or operate virtual currencies without approval from the Russian central bank, with fines of up to two million rubles or about $28,000.

Furthermore, “for violation of the rules for transactions with cryptocurrencies, if they are used as payment for goods or services,” companies would have to pay the equivalent of one million rubles ($13,900) and individuals at least 200,000 rubles ($2,800).

The draft bills were lodged with Russia’s Ministry of Economic Development earlier this week, says a report published by local news company RBC on May 21.

One of the proposed laws plans to completely stop digital assets from being used as a means of payment by citizens or corporations. People that already hold digital assets will be forced to register them with Russia’s tax agency and explain how they acquired them.

Another bill proposes to add new sections to the country’s criminal law for illegal operations with cryptocurrencies. Companies that issue or circulate digital financial assets “using sites registered in Russia or technical equipment located in Russia” are especially liable under this second draft proposal.

Penalties may be compounded for both individuals and firms “if major or especially large damage was caused to citizens, organizations or the state, or if these actions led to enrichment on a large or especially large scale.”

Local lawyers fear that if these laws are enforced, they will paralyze the Russian cryptocurrency industry. Dmitry Kirillov, a senior tax lawyer at Bryan Cave Leighton Paisner and a teacher at Moscow Digital School, told RBC:

“People who currently own cryptocurrencies will be forced to get rid of them before the law comes into force or risk ‘going underground.’ Goals that will be achieved this way are the direct opposite of what’s being declared. In general, the idea of dropping a crypto ‘Iron Curtain,’ in my opinion, does not contribute to the development of businesses or Russia’s interaction with the world economy on a digital level.”

In other trending Bitcoin News today:

Chorus of Crypto Analysts Predict the Start of Altseason As Bitcoin Consolidates Around $9,000

As Bitcoin bulls and bears slug it out around the $9,000 price area, a handful of widely-followed analysts say they believe that an altcoin season may be on the horizon.

In a recent tweet, crypto strategist Crypto Ed NL tells his 92,000 followers that while he’s been bearish on altcoins since the fourth quarter of 2019, he is now changing his stance.

“Okay guys I’ve been annoying you all since October saying ‘no altseason’ yet but… This is how an altseason starts. Ready to rumble?”

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

https://news.bitcoin.com/russia-law-criminalizes-buying-bitcoin-7-years-jail/

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Much of the conversation around predicting the BTC price through 2020 and beyond hinges on the effect of the Bitcoin mining reward halving set to take place in May will have.

Some believe it will have no effect at all, while others are betting big on this.

If history is to be taken into consideration, the Bitcoin price should reach a new high of $400,000 following the event.

Following the first halving in November 2012, Bitcoin’s price increased from a $2.01 bottom to the top of $270.94 – a 13,000 percent increase.

The second halving, in July of 2016, saw Bitcoin (BTC) go from a bottom of $164.01 a top of $20,074 – a similar increase of 12,000 percent.

With this in mind, if Bitcoin moves similarly after May’s halving, investors can expect the price of the coin to reach as high as $400,000.

Other breaking Crypto stories shared in today’s show…

• Bitcoin Price Signal That Preceded 4,000% Rally Forms Again, and It’s Huge for BTC –

• A $50,000 Bitcoin Price; How Likely is a 13-Digit Market Cap?

• Research Firm: 3 Use Cases Could Send Bitcoin To $1 Trillion

• Confirmed: Craig Wright doesn’t have keys to $8 billion of Bitcoin

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Ledger: ► http://ledger.cryptonewsalerts.net

DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

How much has #Bitcoin rallied as a result of each of its Halvings to date?Halving 1: +13,378%Halving 2: +12,160%If BTC rallies anything between 12,160 – 13,378% as a result of Halving 3…

Price of one $BTC will be $385,000 – $400,000https://t.co/4StGraQAaQ#Crypto

— Rekt Capital (@rektcapital) January 17, 2020

Research Firm: 3 Use Cases Could Send Bitcoin To $1 Trillion

A $50,000 Bitcoin Price; How Likely is a 13-Digit Market Cap?

Bitcoin Will Reach $400,000 After Halving, History Dictates

https://decrypt.co/16998/confirmed-craig-wright-doesnt-have-keys-to-8-billion-of-bitcoin